TRADE: A Mellowing Mood

The U.S. and Europe have long seemed to be on a collision course over trade problems. In America powerful Administration officials and Congressmen have grumbled loudly that U.S. goods are often discriminated against abroad; protectionists have argued that the U.S. should restrict imports in retaliation. Across the Atlantic, politicians and officials of the Common Market countries have commonly replied that the U.S. expects the rest of the world to pay for its own economic mismanagement by helping it to a trade surplus that it has done little to deserve. But now the mood has turned mellower on both shores...

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